b. Assume that the demand curve for flu shots hits the x-axis at a quantity less than 100% - this is a reasonable assumption because, as I'm sure you're aware, a sizeable number of people do not want to be vaccinated even if it is free. Draw the SMB curve given your PMB and MB curves. Also draw the PMC and SMC curves. Given your curves, what is the socially efficient number of flu shots? It has been estimated that the herd immunity threshold for the H1N1 flu of 2009 was 25% but that for the H1N1 flu of 1918 it was 74%. In most years, the herd immunity threshold for the flu is around 50%. The herd immunity threshold is a function of the contagiousness of the flu strain and the effectiveness of the flu shot. There was no flu shot in 1918, the herd immunity in 1918 came from people having had the flu and subsequently having immunity.

b. Assume that the demand curve for flu shots hits the x-axis at a quantity less than 100% - this is a reasonable assumption because, as I'm sure you're aware, a sizeable number of people do not want to be vaccinated even if it is free. Draw the SMB curve given your PMB and MB curves. Also draw the PMC and SMC curves. Given your curves, what is the socially efficient number of flu shots? It has been estimated that the herd immunity threshold for the H1N1 flu of 2009 was 25% but that for the H1N1 flu of 1918 it was 74%. In most years, the herd immunity threshold for the flu is around 50%. The herd immunity threshold is a function of the contagiousness of the flu strain and the effectiveness of the flu shot. There was no flu shot in 1918, the herd immunity in 1918 came from people having had the flu and subsequently having immunity.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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